10:00 Atlanta Fed’s Business Inflation Expectations
1:00 PM Results of $24B, 30-Year Note Auction
2:00PM Treasury Statement
2:00 PM FOMC Minutes
***New: PTG Trading Room Chat Log’s Link
***Written 8 pm Tuesday evening for Wednesday’s trading for contribution to MrTopStep’s “The Opening Print” publication.
Tuesday’s Session was Cycle Day 1 (CD1): Price declined to Violation Zone (4329 – 4323) finding responsive buyers. Range was 48 handles on 1.258M contracts exchanged.
…Transition from Cycle Day 1 to Cycle Day 2
This leads us into Cycle Day 2 (CD2): Price rallied to 4365 resistance during CD1 Session, but could not hold bid and faded back down. Potential is high for price to retest the CD1 Low (4317.25) before this cycle’s rally can be sustained. External factors influencing price action is the Core CPI release this morning and options expiry at week’s end. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4330, initially targets 4345 – 4350 zone.
2.) Price sustains an offer below 4330, initially targets 4317 – 4310 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
For more detailed information for both bullish and bearish projected targets, please visit: PTG 3 Day Cycle and/or reference the Cycle Spreadsheet below:
Link to access full Cycle Spreadsheet > > Cycle Day 2 (CD2)
PVA High Edge = 4358 PVA Low Edge = 4341 Prior POC = 4350
Range Projections and Key Levels (ES) December 2021 (Z) Contract
Nasdaq 100 (NQ)
Today is Cycle Day 2 (CD2)…Price is recovering from prior session decline fulfilling initial upside range objective (14740) during overnight activity. Prior range was 198 handles on 596k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 14715 PVA Low Edge = 14640 Prior POC = 14668
Bull Scenario: IF Bulls sustain a bid above 14715, THEN initial upside estimate targets 14740 – 14755 zone.
Bear Scenario: IF Bears sustain an offer below 14715, THEN initial downside estimate targets 14690 – 14685 zone.
Range Projections and Key Levels (NQ) December 2021 (Z) Contract
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee
*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”
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